Is the business good?
How good a business is PBI?
Pitney Bowes Inc. earns 22% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
22%
Return on invested capital · cost of capital 9.0% · 13 points above what the capital costs: growth creates value
- Operating margin
- 14%
Operating margin · Integrated Freight & Logistics median 6.1% · 12 months to Q2 2026
- Cash conversion
- 2.22×
Cash conversion · every dollar of reported profit arrived as cash, and more
- Share count, year on year
- −23%
Share count, year on year · bought back, each share owns more of the company
| Year | Operating margin |
|---|---|
| FY2020 | −5.2% |
| FY2021 | −0.20% |
| FY2022 | 7.6% |
| FY2023 | −2.1% |
| FY2024 | −2.6% |
| FY2025 | 10% |
Details›
- Operating margin12 months to Q2 2026
- 14%
- Net margin12 months to Q2 2026
- 10%
- Free cash flow margin
- 22%
- R&D as % of revenue
- 0.76%
- Revenue, trailing twelve months
- $1.87B
- Free cash flow, trailing twelve months
- $415M
- Net income, trailing twelve months
- $187M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 22%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Integrated Freight & Logistics
Ranks #5 of 10 by Smart Score